Former Kmart property in St. Pete sells for $6M to Atlanta developer
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 22, 2021

New York-based Seritage Growth Properties sold the property of what was once the last remaining Kmart in Tampa Bay to Atlanta-based Fuqua Development for $6 million.

Fuqua, founded in 2012, specializes in developing “non-prototypical shopping centers,” according to its website. It purchased the 120,620-square-foot supermarket on 66th Street N in Kenneth City and the large parking lot, totaling approximately 10.9 acres. The former Kmart property was built in 1970 and closed in early 2020.

Fuqua focuses on building retail and mixed-use projects that incorporate “live, work and play” into communities. In Florida, the group is behind the redevelopment of the North Palm Marketplace in Palm Beach Gardens and the Riverside & Jackson project in Jacksonville that features 300 luxury multifamily units and 60,000 square feet of space that includes The Fresh Market and other retail venues.

The company is currently in the planning and development phases for other large mixed-use projects like The Exchange at Gwinnett in Atlanta, Madison Yards in Atlanta and Clift Farms in Huntsville. A request for comment from Fuqua was not immediately returned.

Seritage Growth Partners once leased a majority of its wholly-owned properties to Sears Holdings, which operated either the Sears or Kmart brand out of the facilities.